The National Bureau of Statistics (NBS) recently released its Consumer Price Index (CPI) report, which revealed that in September 2022, Nigeria's CPI increased by 20.77% year over year. In comparison to the 1.77% gain seen the month before, the index increased by 1.36% month over month.
Nairalytics, a website that offers historical macroeconomic statistics for Nigeria, tracked data and found that this rate is the highest since September 2005.
While rural inflation was 20.32% in September 2022 compared to 17.19% in the same month of 2021, the urban inflation rate was 21.25%.
The annualized rate of food inflation in September 2022 was 23.34%, which was higher than the 23.12% figure for the previous month. Bread and cereal costs, food items, potatoes, yams, and other tubers, as well as rises in the cost of oil and fat, were all blamed for the rise in the food index.
The "all things less farm produce" or "core inflation," which excludes the cost of erratic agricultural products, increased from 17.2% in August 2022 to 17.60% in September 2022.
The prices of petrol, liquid fuel, air travel, ground transit, and solid fuel all experienced the largest rises.
EDITORS SOURCE: MAKE MONEY ONLINE BY READING AND COMMENTING ON NEWS DAILY >> https://bit.ly/3rL7z0I
| Posted: at | |
"You Owe Don Jazzy Big Apology" – Actress, Shan George Tells Wizkid Over Disrespectful Remark
“I Can Retire Today And You’ll Still Not Be On My Level” – Wizkid Replies Davido
Tragedy As Young Man Commits Suicide After Issuing Notice To Quit His Apartment Over N60k Rent
16 Persons Land In Police Net Over Murder Of Female Police Inspector, Erekere In Rivers
Bayern Munich v Real Madrid: UEFA Champions League S/Final Match,Team News,Goal Scorers & Stats